Coupang (NYSE:CPNG) Price Target Raised to $24.00

Coupang (NYSE:CPNG) had its target price upped by Barclays from $23.00 to $24.00 in a research report sent to investors on Monday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other equities research analysts have also issued reports on CPNG. Citigroup decreased their price target on shares of Coupang from $27.00 to $24.00 and set a “buy” rating on the stock in a report on Tuesday, February 10th. Morgan Stanley decreased their target price on shares of Coupang from $31.00 to $29.00 and set an “overweight” rating on the stock in a research note on Monday. UBS Group set a $25.00 price target on shares of Coupang in a report on Thursday, February 19th. Deutsche Bank Aktiengesellschaft raised Coupang from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a report on Friday, January 16th. Finally, Zacks Research raised Coupang from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 4th. Six research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Coupang presently has an average rating of “Hold” and a consensus price target of $26.70.

Coupang Price Performance

Coupang stock opened at $19.11 on Monday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.79 and a current ratio of 1.04. Coupang has a 52 week low of $16.74 and a 52 week high of $34.08. The stock has a market capitalization of $34.91 billion, a P/E ratio of 159.26 and a beta of 1.20. The stock has a fifty day moving average of $20.26 and a 200-day moving average of $26.21.

Coupang (NYSE:CPNG) last released its quarterly earnings data on Thursday, February 26th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.03). The business had revenue of $8.84 billion during the quarter, compared to analyst estimates of $9.12 billion. Coupang had a net margin of 0.60% and a return on equity of 4.52%. The business’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same period last year, the business earned $0.04 earnings per share. On average, sell-side analysts expect that Coupang will post 0.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Coupang news, CAO Jonathan D. Lee sold 2,679 shares of Coupang stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $23.62, for a total transaction of $63,277.98. Following the transaction, the chief accounting officer directly owned 122,096 shares of the company’s stock, valued at approximately $2,883,907.52. The trade was a 2.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 12.78% of the stock is owned by insiders.

Hedge Funds Weigh In On Coupang

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in Coupang by 343.5% during the 3rd quarter. Vanguard Group Inc. now owns 28,595,825 shares of the company’s stock valued at $920,786,000 after purchasing an additional 22,147,432 shares during the period. Norges Bank bought a new stake in shares of Coupang in the 4th quarter valued at $498,333,000. Tiger Global Management LLC increased its position in shares of Coupang by 65.9% during the fourth quarter. Tiger Global Management LLC now owns 26,267,259 shares of the company’s stock worth $619,645,000 after buying an additional 10,429,680 shares during the period. Capital International Investors raised its stake in Coupang by 20.4% during the fourth quarter. Capital International Investors now owns 41,131,036 shares of the company’s stock worth $970,340,000 after buying an additional 6,977,942 shares during the last quarter. Finally, Dragoneer Investment Group LLC lifted its holdings in Coupang by 47.1% in the fourth quarter. Dragoneer Investment Group LLC now owns 21,576,556 shares of the company’s stock valued at $508,991,000 after buying an additional 6,910,865 shares during the period. 83.72% of the stock is currently owned by institutional investors.

Coupang Company Profile

Coupang, listed on the New York Stock Exchange under the ticker CPNG, is a South Korean e-commerce company headquartered in Seoul. Founded in 2010 by Bom Kim, the company grew rapidly by combining an online marketplace with a large direct-retail business model. Coupang completed a primary listing in the United States in 2021, and it has become one of South Korea’s leading online retailers by focusing on convenience, speed and a wide product assortment across consumer categories.

The company operates a vertically integrated e-commerce platform that includes a customer-facing marketplace and an extensive logistics and fulfillment network.